Cerus (NASDAQ:CERS) Raised to Buy at BTIG Research

BTIG Research upgraded shares of Cerus (NASDAQ:CERS) from a neutral rating to a buy rating in a research note published on Wednesday morning, Briefing.com Automated Import reports. They currently have $7.00 target price on the biotechnology company’s stock.

A number of other equities research analysts have also commented on the stock. Stifel Nicolaus assumed coverage on shares of Cerus in a research note on Tuesday, August 27th. They issued a buy rating and a $7.00 price objective on the stock. Stephens assumed coverage on shares of Cerus in a research note on Thursday, August 22nd. They issued an overweight rating and a $8.00 price objective on the stock. BidaskClub lowered shares of Cerus from a sell rating to a strong sell rating in a research note on Friday, October 25th. Zacks Investment Research raised shares of Cerus from a sell rating to a hold rating in a research note on Monday, October 7th. Finally, ValuEngine lowered shares of Cerus from a buy rating to a hold rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and an average price target of $7.50.

NASDAQ CERS traded up $0.13 during trading on Wednesday, reaching $4.47. The company’s stock had a trading volume of 1,395,200 shares, compared to its average volume of 917,167. The firm has a 50 day moving average price of $4.50 and a 200 day moving average price of $5.11. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.95. Cerus has a 12 month low of $3.95 and a 12 month high of $6.88. The firm has a market capitalization of $608.99 million, a price-to-earnings ratio of -10.16 and a beta of 1.60.

Cerus (NASDAQ:CERS) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.01). Cerus had a negative net margin of 100.38% and a negative return on equity of 100.59%. The firm had revenue of $18.00 million during the quarter, compared to the consensus estimate of $17.69 million. During the same period in the prior year, the company posted ($0.11) earnings per share. The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. On average, equities analysts forecast that Cerus will post -0.5 EPS for the current fiscal year.

In related news, Director Timothy B. Anderson sold 18,795 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $5.40, for a total transaction of $101,493.00. Following the transaction, the director now directly owns 177,649 shares of the company’s stock, valued at $959,304.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Carol Moore sold 30,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $159,900.00. The disclosure for this sale can be found here. Corporate insiders own 7.26% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Trust N.A. boosted its stake in Cerus by 57.1% during the second quarter. Raymond James Trust N.A. now owns 22,000 shares of the biotechnology company’s stock worth $124,000 after acquiring an additional 8,000 shares in the last quarter. Primecap Management Co. CA boosted its stake in Cerus by 4.6% during the second quarter. Primecap Management Co. CA now owns 11,300,000 shares of the biotechnology company’s stock worth $63,506,000 after acquiring an additional 500,000 shares in the last quarter. Peregrine Capital Management LLC boosted its stake in Cerus by 13.4% during the second quarter. Peregrine Capital Management LLC now owns 2,194,628 shares of the biotechnology company’s stock worth $12,334,000 after acquiring an additional 259,932 shares in the last quarter. Vanguard Group Inc. boosted its stake in Cerus by 0.3% during the second quarter. Vanguard Group Inc. now owns 7,006,902 shares of the biotechnology company’s stock worth $39,378,000 after acquiring an additional 23,356 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in Cerus by 18.2% during the second quarter. Macquarie Group Ltd. now owns 209,426 shares of the biotechnology company’s stock worth $1,177,000 after acquiring an additional 32,257 shares in the last quarter. 76.51% of the stock is currently owned by institutional investors and hedge funds.

Cerus Company Profile

Cerus Corporation, a biomedical products company, focuses on developing and commercializing the INTERCEPT Blood System to enhance blood safety. Its INTERCEPT Blood System, a proprietary technology for controlling biological replication that is designed to reduce blood-borne pathogens in donated blood components intended for transfusion.

Read More: What is diluted earnings per share (Diluted EPS)?

Receive News & Ratings for Cerus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerus and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit